Glenview Trust co Grows Stock Position in Blackstone Inc. (NYSE:BX)

Glenview Trust co grew its holdings in Blackstone Inc. (NYSE:BX) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,065 shares of the asset manager’s stock after purchasing an additional 1,188 shares during the quarter. Glenview Trust co’s holdings in Blackstone were worth $4,667,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Blackstone by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock valued at $697,464,000 after purchasing an additional 113,732 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Blackstone by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after buying an additional 116,367 shares during the period. Finally, FMR LLC grew its holdings in Blackstone by 6.1% in the 3rd quarter. FMR LLC now owns 2,155,068 shares of the asset manager’s stock valued at $330,006,000 after buying an additional 124,462 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other news, Director Ruth Porat bought 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of research reports. Barclays restated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. UBS Group reiterated a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. Keefe, Bruyette & Woods upped their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Wells Fargo & Company cut their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Trading Up 3.3 %

NYSE:BX opened at $141.01 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market cap of $102.86 billion, a PE ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The business’s 50 day moving average is $165.90 and its two-hundred day moving average is $167.21.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is presently 158.68%.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.